Jessie was probably the best employee I ever had. He knew everyone. No matter where we went in our work area, he would find someone he knew. Jessie never wasted a move. When going from the truck to the work he would stop and see what he would need and took it. The same when going back to the truck. While working, he would see and mention other possible work and always made up sells. Everyone liked him. Jessie was black (African American, Negro, whatever the proper term is now), but everyone just loved him. If you looked up personality in the dictionary, you probably would see a picture of him!

Last year, after a bad thunderstorm, the power pole in front of his house was hit by lighting. His mom called the power company to notify them at about 10:00 am. At about midnight, his brother came home and had to park in the street and walk to the house. When he stepped in a puddle, he was electrocuted.

The family (he, his mother, and his little brother) sued the power company. What they got was astounding!

Jessie told me he would never have to work again. I told him, it would probably be in the courts for years with all the probable appeals and that when it was settled, it would probably be in the form of an allotment that covered many years.

I was wrong. Last month Jessie's mother received $9.3 million, Jessie and his brother received $1.7 million - after taxes (the IRS got their money first).

Jessie, now 20, moved out the home and bought a Cadillac Escalade.

I found out that yesterday, Jessie was arrested with a very large quantity of cocaine (street value of $1 million), a small arsenal, and 21 other charges (including a shootout with the police). One month of the "Easy Life" set Jessie up for a long prison sentence.

I want the "Easy Life" but, I would find a better way!

Steve

SuperiorPower

12-12-2009, 12:24 PM

It just makes me sick to hear stories like that, yet they are around us everywhere. You know, money is not the root of all evil, but the Bible does say that the "Love of money is the root of all evil". I believe things like this happen when they become so obsessed with their money. Jessie had it made. Heck, he could have started his own business it sounds like with the money he got and would most likely have been set for life.

I have heard numerous stories of good people who won the lottery or whatever the case may be, and ended up with over $1,000,000 in cash. Usually they reacted in similar ways and next thing they knew (usually with in several years) they were dead broke, and sometimes on the street. Usually they ended up far worse than they ever were before. There is a cost associated with getting something for nothing.....

I have always said that IF I ever found myself in possession of any amount of dough, the first thing I would do is pay off my debts, possible my family's debts, and invest the rest of it. I would most likely take a bit of it though and eventually invest it in a business (my shop) but would not do so overnight. I believe in research before making any substantial investment, and to me that would qualify as a "substantial investment". I would make every attempt to not touch more than just the interest if there was enough dough to invest after my debts are paid.

________________________________

I heard a story recently about someone here locally who sued a police department and was given $300,000 just to settle, so the department and city would not have to drag this on for months and years to come. This particular person was on the opposite end of the spectrum though. He was a low life (literally), had a history of abusive behavior and negative contacts with law enforcement and the courts system. What happened to him obviously was an unfortunate incident. In the same news story (on the radio) they said that the city was paying him $300,000 but $65,000 of that was going to back child support. I am thinking, what the heck?!?!?!?! I can't help but wonder what he will be arrested for soon.

We have another person in our jurisdiction who was involved in a vehicle accident or something. I believe he sued the insurance company or something like that and ended up with a chunk of cash. He bought numerous vehicles including, a brand new mustang, numerous ATVs, and a F250 that he had a shabby lift kit installed on. He no sooner got his money before we started have problems with him. A pursuit with him driving his mustang (he lost). Another incident where his girlfriend was driving HIS Mustang and he was driving his F250. He got upset at her and drive his truck up over the mustang with her in the car! I think it totaled the mustang (yes, his own Mustang!). And of course he went to jail....

swstout

12-12-2009, 12:51 PM

I have heard numerous stories of good people who won the lottery or whatever the case may be, and ended up with over $1,000,000 in cash. Usually they reacted in similar ways and next thing they knew (usually with in several years) they were dead broke, and sometimes on the street. Usually they ended up far worse than they ever were before.

I know t people who won the lottery. Both split the winnings with others.

The first was a man I worked with. He won almost $2 million. At the time, he was driving 60 miles one way to work. The Company he has worked for went out of business and he had only 16 months to go for retirement so he drove there just to finish it. He still drove after winning for the same reason but, he now drove a Lincoln Town Car.

He stayed untile retirement. About 10 months later, I went into work and saw him at his old station. I said, " you couldn't have gone through all that money already?" He told me he completely remodeled his home, went on a world cruise with his wife and then found himself drinking every day. He came back to work for something to do!

The second was a 80 year old woman that worked as a greeter for Wal Mart. She paid off all her debts, her families debts, and set up a fund that paid her $500.00 a week. The rest she donated to the American Cancer Society. Her husband died of cancer. I think she is still at Wal Mart!

I too have heard of the horror storys of past winners but do not know of any. I think maturity is the dominating factor. Both of my examples were at or beyond retirement age. Both had life experiences that shaped their decisions.

Steve

SuperiorPower

12-12-2009, 01:49 PM

I too have heard of the horror storys of past winners but do not know of any. I think maturity is the dominating factor. Both of my examples were at or beyond retirement age. Both had life experiences that shaped their decisions.

Steve

I think you are exactly right! I think it would be easy to become to engrossed with the money. I think I would have to stay working or I would lose my mind.

I wonder if part of the reason these things can happen is because these people (like Jessie) were used to thinking and working, they simply could not remain idle. They wanted something to do, and got into the wrong business. They wanted to get richer quick....

Steve

12-12-2009, 09:09 PM

Maybe it's a matter of people dont handle excess well when it comes to them too quickly. It's just has too much of a life changing effect?

SuperiorPower

12-12-2009, 10:21 PM

Maybe it's a matter of people dont handle excess well when it comes to them too quickly. It's just has too much of a life changing effect?

That is a very good point. And probably a very good probability. Also, I think when we work for it, we tend to be more careful how we spend it.

Steve

12-13-2009, 09:40 PM

Very true.

Have you ever seen any of the keeping up with the Kardashian shows or other similar reality shows where the next generation is given all this wealth? Oh wow! These kids were given all this money and to watch them, you would think they came here from another planet.

SuperiorPower

12-14-2009, 09:08 AM

Very true.

Have you ever seen any of the keeping up with the Kardashian shows or other similar reality shows where the next generation is given all this wealth? Oh wow! These kids were given all this money and to watch them, you would think they came here from another planet.

I have not seen any of those shows.

However, I remember a number of years ago I read an article about this famous bridge builder who made it big building bridges in the early 20th century. He started from absolute nothing at all and built a fortune of millions of $$ if I recall correctly. Either way, during the depression, after he had passed away, his children had a big christmas party and spent a lot of jack on the party. I do not recall the exact $$ amount, but do remember that it was more than the average WORKING many earned in an entire year. Yet, these children were not working at all. They were simply living off his wealth, primarily off the interest.

Now I can't help but wonder, were the children any better off with all that money than they would have been had they grown up and been left with NOTHING or at least much less?

I tend to believe that they were worse off. I think if they had to work to earn that money or at least work some because there was not enough money for them to simply live off of, they would have been better off. They would have appreciated it more. What do you think?

Eli

Steve

12-14-2009, 10:34 PM

I tend to believe that they were worse off. I think if they had to work to earn that money or at least work some because there was not enough money for them to simply live off of, they would have been better off. They would have appreciated it more. What do you think?

It's a rough call. Everyone wants to pass something on to their kids and help them live a better life but money is a small part of it.

Morals, education, direction and others are more important. Money will come and go. There are other things that will stay with you all your life.

A lot of times it seems titans of industry are absentee parents. They are so busy with what they are doing, they don't have time for their kids and the kids are effected by that. They are scared by it. Then you throw in a bunch of money and it tends to make smaller problems worse. It exaggerates issues.

SuperiorPower

12-14-2009, 10:47 PM

It's a rough call. Everyone wants to pass something on to their kids and help them live a better life but money is a small part of it.

Morals, education, direction and others are more important. Money will come and go. There are other things that will stay with you all your life.

A lot of times it seems titans of industry are absentee parents. They are so busy with what they are doing, they don't have time for their kids and the kids are effected by that. They are scared by it. Then you throw in a bunch of money and it tends to make smaller problems worse. It exaggerates issues.